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GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Finite-lived Intangible Assets, Net

Goodwill and finite-lived Intangible assets, net consisted of the following at December 31, 2017 and 2016:

 

 

 

2017

 

 

2016

 

Goodwill

 

$

1,091,000

 

 

$

1,091,000

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

Patents

 

 

13,475,000

 

 

 

13,475,000

 

Customer relationships

 

 

3,400,000

 

 

 

3,400,000

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Internally-developed software

 

 

102,968

 

 

 

 

Other intangible assets, gross

 

 

20,518,935

 

 

 

20,415,967

 

Less: accumulated amortization

 

 

(10,157,126

)

 

 

(8,660,948

)

Other intangible assets, net

 

 

10,361,809

 

 

 

11,755,019

 

Goodwill and other intangible assets, net

 

$

11,452,809

 

 

$

12,846,019

 

 

Schedule of Estimated Amortization Expense

Estimated amortization expense to be recorded for the twelve months ending 2018 through 2022 and thereafter are as follows:

 

December 31,

 

Total

 

2018

 

$

1,498,874

 

2019

 

 

1,498,874

 

2020

 

 

1,454,798

 

2021

 

 

1,391,218

 

2022

 

 

1,106,104

 

Thereafter

 

 

3,411,941

 

Total amortization

 

$

10,361,809